Romanian online retailer Elefant.ro expects EUR 100 mln sales in two years

Romanian online retailer Elefant.ro could sell its operations after reaching a turnover of EUR 100 million. The company estimates that it could exceed this threshold in 2019, reports local Ziarul Financiar. “There is an exit horizon of 3-5 years. I think that we’ll be able to sell after 2019, when we will have exceeded the threshold of EUR 100 million. We see a tremendous opportunity in the online market in Romania. E-commerce hasn’t yet reached maturity, it’s just at the beginning. Most customers still buy their products offline,” said Dan Vidrascu, Elefant.ro CEO. Elefant.ro expects to reach a turnover of EUR 45 million this year. Last year the business grew by 70% to about EUR 27 million. The sales of perfumes and cosmetics exceeded the sales of books, which historically ranked first, reaching about a third of the turnover, Vidrascu added. Elefant.ro is controlled by Fribourg Capital, a fund controlled by Ioan Stirza, a former Prime Minister of Moldova. Investment funds Axxess Capital and Catalyst Romania also hold minority stakes in the company. editor@romania-insider.com